Directors & Officers (D&O) insurance invoices will be mailed to chapters within the next few days.
D&O insurance covers claims against the chapter and its officers and directors for any “wrongful act.” “Wrongful act” is generally defined as “any actual or alleged error, misstatement, misleading statement, act, omission, neglect or breach of duty committed, attempted, or allegedly committed or attempted” by the chapter or its directors, officers or employees in their capacities as directors, officers or employees of the chapter. It does not cover any criminal or deliberate fraudulent acts, or willful violations of statutes or laws. There are also other conditions and exclusions contained in the policy itself.
Please note that this is not a general liability or professional liability policy, so it does not provide coverage for bodily injury, property damage, defamation, invasion of privacy, copyright or trademark infringement. ACFE does not provide general liability or professional liability coverage for local chapters.
It is very important to remember that if you receive any type of notice of a potential claim, you must immediately contact John Warren, Vice President and General Counsel, at ACFE headquarters in Austin. Failure to do so may result in the denial of the claim by the insurance company.
Invoices will be mailed to the address for your chapter as listed on your chapter’s page on the List of ACFE Chapters.
If no address is listed, the invoice will be sent to the chapter president’s primary mailing address.
You may obtain your own coverage if you wish. If you have already procured D&O Insurance for your chapter, please notify Ashley Stone to cancel your invoice.
If you have any questions, please email Ashley Stone.